North American Financial 15 Split Corp T.FFN

Alternate Symbol(s): FNCSF

North American Financial 15 Split Corp. is a Canada-based mutual fund corporation, which invests in a portfolio of over 15 financial services companies. It offers two types of shares, such as Preferred Shares and Class A Shares. Its investment objectives with respect to preferred shares are to provide holders of preferred shares with cumulative preferential monthly cash dividends in the amount of over 5.5% annually and to pay the holders of the preferred shares a certain price per preferred share on or about the termination date. Its investment objectives with respect to class A shares are to provide holders of class A shares with regular monthly cash distributions and to permit holders to participate in all growth in the net asset value of the Company for a specific price per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying a specific price per preferred share. Its investment manager is Quadravest Capital Management Inc.

TSX:FFN - Post by User

North American Financial 15 Split Corp > Big day for FFN, UNIT NAV climbed over 15$

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Comment by Pat2003on Jan 17, 2023 1:00pm

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Post# 35228437

RE:RE:RE:RE:Big day for FFN, UNIT NAV climbed over 15$

Thank you for the information on the decripencies for those dividends. Here is Quadravests responce.....

.Good day,

Thank you for your email.

The NAV is calculated independently by RBC in accordance with GAAP, based on the net assets of the underlying portfolio, divided by the units outstanding. It is directly correlated to movements in the underlying common stocks held in the portfolio.

Dividends declared are always record date as of the last business day of the month, payable on the 10^th of the following month. Typically the mid-month NAV is used to determine a monthly Class A share payment, however please note monthly dividends may be declared at any time using any NAV, as long as it is before the TSX deadline (five trading days before record date). Market cconditions and volatility are taken into consideration.

I stand corrected in my interatation of the prospectus

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